FxWirePro: USD/INR hits fresh 1 –month high at 67.26, intraday bias remains bullish

• USD/INR is currently trading around 67.22.
   
• It made intraday high at 67.26 and low at 67.12 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 66.82 marks. 
   
• A daily close above 67.26 will take the parity up towards key resistances at 67.41(20D EMA), 67.76 and 68.35 (March 1, 2016 high).
   
• Alternatively, reversal from key 67.28 will tests key supports at 66.82, 66.56, 66.42(May 01, 2016 low) /66.32 (November 2015 low) /66.23/66.10/65.95/65.81 marks respectively.
   
• In addition, Indian stock markets are trading on a negative note. As BSE Sensex was trading 0.23% lower at 25,646.94 while NSE Nifty down by 0.40% to 7,838 points.

We prefer to take long position in USD/INR around 67.18, stop loss 66.82 and target 67.55 levels.